NEAR price is up more than 16% today, making it the top-performing major crypto asset in the market at writing. Over the past week, NEAR protocol has climbed more than 55%, and the token is now up almost 70% over the last month. Trading volume also jumped more than 12%, pushing daily activity above $1 billion.
The rally sent NEAR price to a six-month high near $2.34 as traders piled into AI-focused crypto projects again. Stronger sentiment came from three major drivers: the upcoming v2.13 network upgrade, a bullish endorsement from Arthur Hayes, and positive spillover from Nvidia’s strong AI revenue outlook. More than $9 million in short positions were liquidated during the move.
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Why Is the Near Protocol Price Up Today?
One big reason NEAR went up is the growing attention on AI tools inside its ecosystem. Between May 20 and May 22, the project rolled out new privacy features. These tools remove sensitive information from user commands before they get processed.
Developers also shared details about the upcoming v2.13 network upgrade. That upgrade includes dynamic resharding technology. That upgrade would allow the network to automatically increase or reduce shards depending on demand, helping improve scalability for AI-driven applications.
The AI narrative also received a boost from Nvidia’s strong revenue outlook this week. Traders moved back into AI-linked crypto projects after Nvidia pointed to continued demand for artificial intelligence infrastructure.
Since NEAR markets itself as a blockchain focused on scalable AI applications, the token benefited heavily from that market rotation. The jump in trading activity shows traders are treating NEAR as one of the leading AI-related crypto plays right now.
Arthur Hayes also helped fuel momentum after naming NEAR Protocol part of his “holy trinity” of altcoins alongside Hyperliquid and Zcash on May 23. His comments triggered another wave of speculative buying across social media and trading desks. The endorsement mattered because Hayes still carries strong influence across crypto markets, especially during periods of high-risk appetite.
Institutional interest also supported the move. Bitwise’s European NEAR Staking ETP grew to roughly $36 million in assets as regulated investment demand increased. Investors appear more willing to gain exposure to NEAR through structured products as the ecosystem expands its AI and infrastructure offerings. That combination of product development, institutional flows, and trader excitement pushed the NEAR price sharply higher over the past several days.
Here’s What the NEAR Chart Is Showing
We had a look at the chart, and the move has been extremely aggressive since the breakout above the $1.70 area earlier this week.
Buyers shot the token almost straight up to $2.50. Then some profit-taking showed up near the top. Even after the latest cool-down, NEAR still trades far above the old sideways zone. That means buyers are still in charge for now.
The momentum tools still lean heavily toward more upside.The RSI histogram remains deep in positive territory after several days of strong buying pressure. Stochastic readings also remain elevated near the 80 level, which shows momentum is still strong even though the market may be entering overbought conditions in the short term.
Price structure also shows a series of higher lows forming during the rally. Buyers defended dips quickly each time the token pulled back over the past few sessions. The first important support zone now stands near $2.10 to $2.15. If that region holds, traders may continue targeting another move higher toward the recent peak near $2.50.
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Here’s Where Near Protocol Price Could Go This Week
Likely Case
This week, expect more swings between $2.10 and $2.50. People are cashing out after the big jump. But the buzz around AI crypto is still hot. Plus the June upgrade gives buyers a reason to hang on. If trading volume remains elevated above $1 billion, the NEAR price could continue consolidating near the highs instead of collapsing lower.
Bullish Case
If buyers push NEAR cleanly above the $2.50 wall, the run could stretch to $2.70 and maybe $3.00. More news around AI tools, steady money from big investors, and a stronger crypto market could keep things going. A nod from a well-known crypto name or new project news could also trigger another breakout try.
Bearish Case
The bearish scenario starts if the NEAR price loses the $2.10 support area. That breakdown could expose the market to a larger cooldown toward $1.90 or even $1.70, especially after such a fast rally in a short period. Traders will also watch whether AI-related momentum across the crypto market starts cooling after the latest run higher.
The NEAR Protocol price has become one of the strongest performers in crypto this month as traders rotate heavily into AI-linked blockchain projects. The combination of the v2.13 upgrade, AI privacy tools, Arthur Hayes’ endorsement, and rising institutional demand created strong momentum behind the rally.
Even so, the market is moving very fast after a 55% weekly gain. Buyers still control the trend for now, but the next few days will matter because traders may start locking in profits near the recent highs. If support levels continue holding, NEAR price could remain one of the market’s strongest altcoins heading into June.
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